CCL Industries (TSE:CCL.B) Shares Pass Above Two Hundred Day Moving Average of $61.54

CCL Industries Inc. (TSE:CCL.B) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$61.54 and traded as high as C$71.21. CCL Industries shares last traded at C$71.00, with a volume of 149,324 shares.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CCL.B. Raymond James upgraded shares of CCL Industries from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from C$74.00 to C$78.00 in a report on Thursday, March 7th. BMO Capital Markets boosted their price objective on shares of CCL Industries from C$76.00 to C$81.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. National Bankshares boosted their price objective on shares of CCL Industries from C$79.00 to C$81.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Scotiabank boosted their price objective on shares of CCL Industries from C$72.00 to C$79.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, Royal Bank of Canada boosted their price objective on shares of CCL Industries from C$72.00 to C$81.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$78.90.

CCL Industries Price Performance

The company has a debt-to-equity ratio of 49.37, a current ratio of 1.89 and a quick ratio of 1.31. The company’s 50-day simple moving average is C$69.52 and its 200-day simple moving average is C$61.54. The stock has a market capitalization of C$11.78 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 0.26 and a beta of 0.55.

Insider Activity

In other news, Director Gunther Johann Birkner sold 10,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of C$70.00, for a total value of C$700,000.00. In other news, Director Gunther Johann Birkner sold 10,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of C$70.00, for a total value of C$700,000.00. Also, Director Derek Cumming sold 700 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of C$69.51, for a total transaction of C$48,653.50. Insiders have sold 293,799 shares of company stock valued at $21,357,228 over the last ninety days. 10.03% of the stock is currently owned by company insiders.

About CCL Industries

CCL Industries Inc manufactures and sells labels, containers, consumer printable media products, technology driven label solutions, polymer bank note substrates, and specialty films. The company operates through four segments: CCL, Avery, Checkpoint, and Innovia. The CCL segment offers pressure sensitive and specialty extruded film materials for decorative, instructional, functional, and security applications in the consumer packaging, healthcare, chemicals, consumer electronic device, and automotive markets.